Cathode materials competition, page-109

You are correct in that this is a spec stock within a segment that has taken a beating given dramatic reduction in global Co pricing.
However AUZ management has successfully convinced us that they are special for a host of reasons .
To me the market is most always the smartest and I fear that the 70% reduction is value is but a direct correlation to a lack in SH conviction/ belief.
This management, this Board has consistently over promised and under delivered.
Past performance sadly is a good predictor on future results .
Hope I am proven wrong..my significant investment here has made me poor.